The product was a first of its kind for the healthcare revenue cycle industry, where hospitals could easily transition patient payment plans to a more flexible financing payment model in a seamless experience. Instead of having a disjointed process (say, being handed a brochure to pursue financing if your medical bill was expected to be high), the application process was embedded in the existing patient experience. To qualified patients, it just looked like they had the opportunity for longer payment terms with a lower monthly amount.
This product ended up being very complex due to the need for the healthcare provider to be able to recall a financed plan for a multitude of reasons, such as the patient qualifying for financial assistance or handling an insurance dispute. We also had to be mindful of the federal and local regulations around when and how a hospital can “sell” a patient payment amount, sometimes enabling the patient to sign up, but delaying the financing to the healthcare provider until the account matures beyond the state-mandated window.
This provided more cash up front for the healthcare customer and more flexibility for the patient to pay off their medical debt, focusing on stretching the dollars of the patients who could afford the least.
I finished the race on a long-running product that had been worked on for a couple of years and had not yet been adopted by a first customer. Along with facilitating the remaining development and launch of the product, I provided the necessary documentation and packaging needed to formalize this product, complete with: